RIYADH: The Diriyah project is experiencing strong success in residential real estate sales and is now targeting mid-level buyers, said a top executive.
On the final day of the Real Estate Future Forum, Jerry Inzerillo, group CEO of Diriyah Co., highlighted the rapid growth of the area’s residential and commercial property market, emphasizing the strong demand for homes.
He also spoke about the continued expansion of Diriyah’s business landscape, with plans to open Zallal in April, which will feature 23 new businesses, further boosting the area’s appeal.
These developments are a key part of a strategy to position the destination — one of Saudi Arabia’s five giga-projects supported by the Public Investment Fund — as both a residential and commercial hub, contributing to the Kingdom’s economic transformation under Vision 2030.
“I’m thrilled to say that we’re selling a lot of our residential real estate,” Inzerillo said, adding that Diriyah will offer “several hundred units for the mid-level buyer” at the upcoming Cityscape event in November, catering to a broader range of potential homeowners.
Beyond real estate, Inzerillo talked up the area’s historical and cultural importance to Saudi Arabia, saying: “Diriyah is the house of Al-Saud, the source of our national identity and pride.
“What makes us unique is that we are the celebration of culture and heritage.”
Inzerillo also discussed Diriyah’s spiritual importance, noting that one of its crowning achievements is providing a welcoming environment for religious travelers from around the world.
“One of the greatest things in the world is to allow 2 billion Muslims to feel welcomed to fulfill pilgrimage to the two holy cities,” he said.
The CEO shared that 14 percent of his workforce, now totaling 3,200 employees, are from Diriyah’s local community.
Inzerillo noted the completion of 9 km of parks, which contributes to the area’s green spaces and makes it more attractive to residents and visitors. He also highlighted construction safety milestones, stating that Diriyah had logged 209 million construction man-hours without a fatality.
Reflecting on the Kingdom’s increasing international appeal, Inzerillo said: “People from all over the world are coming to see Saudi, and they’re going back happy.”
The CEO concluded by expressing confidence in the Kingdom’s future capabilities, stating: “What I would say for sure by 2030, even though I believe it now, is that the Kingdom, with its leadership now, is capable of hosting any global event in any way and be the best host for that thing.”
